O'Brien Commercial

Pure. Tenant and Corporate Representation.

Base Year

The year by which all future operating expense and real estate tax escalations (i.e. pass-throughs) will be calculated for a lease.  Typically, the base year is the first year of occupancy by the tenant, and is figured using the actual real estate taxes and operating expenses incurred by a building or group of buildings in a given calendar year.

« Back to Glossary Index